Correlation Between Blackstone Secured and Lazard Global
Can any of the company-specific risk be diversified away by investing in both Blackstone Secured and Lazard Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Blackstone Secured and Lazard Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackstone Secured Lending and Lazard Global Equity, you can compare the effects of market volatilities on Blackstone Secured and Lazard Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Blackstone Secured with a short position of Lazard Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackstone Secured and Lazard Global.
Diversification Opportunities for Blackstone Secured and Lazard Global
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Blackstone and Lazard is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Blackstone Secured Lending and Lazard Global Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lazard Global Equity and Blackstone Secured is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Blackstone Secured Lending are associated (or correlated) with Lazard Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lazard Global Equity has no effect on the direction of Blackstone Secured i.e., Blackstone Secured and Lazard Global go up and down completely randomly.
Pair Corralation between Blackstone Secured and Lazard Global
Given the investment horizon of 90 days Blackstone Secured Lending is expected to generate 1.05 times more return on investment than Lazard Global. However, Blackstone Secured is 1.05 times more volatile than Lazard Global Equity. It trades about 0.11 of its potential returns per unit of risk. Lazard Global Equity is currently generating about 0.0 per unit of risk. If you would invest 2,908 in Blackstone Secured Lending on October 26, 2024 and sell it today you would earn a total of 363.00 from holding Blackstone Secured Lending or generate 12.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.19% |
| Values | Daily Returns |
Blackstone Secured Lending vs. Lazard Global Equity
Performance |
| Timeline |
| Blackstone Secured |
| Lazard Global Equity |
Blackstone Secured and Lazard Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackstone Secured and Lazard Global
The main advantage of trading using opposite Blackstone Secured and Lazard Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackstone Secured position performs unexpectedly, Lazard Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Lazard Global will offset losses from the drop in Lazard Global's long position.| Blackstone Secured vs. Carlyle Secured Lending | Blackstone Secured vs. Oaktree Specialty Lending | Blackstone Secured vs. Sixth Street Specialty | Blackstone Secured vs. FS KKR Capital |
| Lazard Global vs. Putnam Global Financials | Lazard Global vs. John Hancock Financial | Lazard Global vs. Blackstone Secured Lending | Lazard Global vs. First Trust Specialty |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |